Connect with us

Hi, what are you looking for?

Jewish Business News

StartUps

Israel’s Taxi App for Businesses Gett Continues to Expand Worldwide

The company just raised another $115 million.

Gett is an Israeli company whose app assists business people looking for taxis. It began in Israel and now offers a travel platform for businesses in various cities around the world. The company added an additional $15 million to its latest round of funding bringing its total to $115 million.

The new funding will be used by Gett to continue rolling-out its ground travel software platform for businesses worldwide. The additional $15 million is an extension of the $100M round announced in June 2020 to accommodate interest from new investor Pelham Capital Investments Ltd. and Gett’s existing investors. The proceeds will be used to further accelerate the development of Gett’s software as a service (SaaS) platform as well as the company’s global expansion plans.

According to Tech Crunch Gett has now raised a total of $865 million and its last confirmed valuation was $1.5 billion, pegged to a $200 million fundraise in May 2019.

Founded in Israel in 2010 by CEO Dave Waiser, Gett is a ground travel platform for businesses. It states that by optimizing the entire experience – from booking and riding to automatic invoicing and insightful analytics – Gett saves clients 25% on their global ground travel costs.

The company first began as a competitor to ride-share services like Uber and Lyft. In fact, it was first called GetTaxi. In Israel, where it began, taxis everywhere can be seen with a “Gett” sign on their roofs. But that market was already saturated and so the company morphed into a platform offering transportation services for business clients in major cities around the world.

Gett launched one of the first-ever on-demand B2B mobility services in 2010. Gett’s software powers, among other clients, a third of the Fortune 500 list.

Gett boasts that it “brings the fragmented world of ride-hailing companies and corporate fleets together on one platform, optimizing its clients’ corporate ground travel needs, from booking and riding to invoicing and analytics, saving corporates both time and money while increasing employee satisfaction.”

Dave Waiser, Gett Chief Executive Officer, said: “We are on a journey to transform corporate ground travel and I’m delighted that investors find our model attractive. This investment will allow us to further develop our SaaS technology and deepen our proposition within the corporate ground travel market (both travel-related and local ones).

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement